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11:03 PM EDT, 08/04/2025 (MT Newswires) -- CapitaLand Integrated Commercial Trust's (SGX:C38U) distribution per unit or DPU was up 3.5% to SG$0.0562 in the first half of the year from SG$0.0543 a year earlier, according to a Tuesday filing with the Singapore Exchange.
Distributable income rose 12.4% to SG$411.9 million from SG$366.5 million.
Net property income declined 0.4% to SG$579.9 million from SG$582.4 million a year earlier.
Gross revenue slid 0.5% year over year to SG$787.6 million from SG$792.0 million. Analysts from Visible Alpha had projected gross revenue of SG$790.4 million.
The trust's committed portfolio occupancy came in at 96.3% during the period.
Distributable income rose 12.4% to SG$411.9 million from SG$366.5 million.
Net property income declined 0.4% to SG$579.9 million from SG$582.4 million a year earlier.
Gross revenue slid 0.5% year over year to SG$787.6 million from SG$792.0 million. Analysts from Visible Alpha had projected gross revenue of SG$790.4 million.
The trust's committed portfolio occupancy came in at 96.3% during the period.
11:51 PM EDT, 08/04/2025 (MT Newswires) -- CapitaLand Integrated Commercial Trust (SGX:C38U) proposed a private placement at an issue price of between SG$2.105 and SG$2.142 per unit to raise gross proceeds of around SG$500 million, according to a Tuesday filing with the Singapore Exchange.
Citigroup Global Markets Singapore, DBS Bank and J.P. Morgan Securities Asia entered into a placement agreement as joint bookrunners and underwriters.
Around SG$466.5 million of the proceeds will be used to finance the proposed acquisition of a 55% stake in the office and retail component of CapitaSpring, while SG$26.3 million will be used for the repayment and refinancing of debt, capital expenditure and asset enhancement.
Citigroup Global Markets Singapore, DBS Bank and J.P. Morgan Securities Asia entered into a placement agreement as joint bookrunners and underwriters.
Around SG$466.5 million of the proceeds will be used to finance the proposed acquisition of a 55% stake in the office and retail component of CapitaSpring, while SG$26.3 million will be used for the repayment and refinancing of debt, capital expenditure and asset enhancement.
70M married deal. Something big coming?
CapitaSpring to be divested soon. And last year, 21 Collyer Quay was divested. Will the completion of AEIs at IMM Bldg & at Galileo Germany be able to overcome the dividend ' losses' from CapitaSpring and 21 Collyer Quay ?
No surprise for cict holders
Delvyss ( Date: 28-Apr-2025 13:30) Posted:
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Market likes the 1q update.
Waiting for joelton to provide more details
Waiting for joelton to provide more details
Sold down too today
Shenzhun01 ( Date: 03-Apr-2025 18:45) Posted:
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https://youtu.be/XC6EsJYeL5A?si=Z-YuWH7S3W5bj3ky
Expecting quicker and more rate cuts.
Expecting quicker and more rate cuts.
CICT and FCT led the pack today, other S-REITs probably gonna follow suit very soon with Trump&rsquo s tariffs and the volatile market. REITS are safe haven now. Treasury yield still trending down currently. U.S. 1-year Treasury yield dips till 3.988 currently.
https://www.marketwatch.com/investing/bond/tmubmusd01y?countrycode=bx
https://www.marketwatch.com/investing/bond/tmubmusd01y?countrycode=bx
Immediate Impact on Trump's
Tariffs
S-REITs, CICT (+3.3%), and Frasers Cpt (+3.75%) soared after Trump announced a long list of tariffs against many countries. The U.S 10-year Treasury yield fell to 4.06%, the lowest level seen this year.
Tariffs
S-REITs, CICT (+3.3%), and Frasers Cpt (+3.75%) soared after Trump announced a long list of tariffs against many countries. The U.S 10-year Treasury yield fell to 4.06%, the lowest level seen this year.
CICT issues $150 mil 3.088% fixed rate notes to institutional, accredited investors
CapitaLand Integrated Commercial Trust (CICT) has issued $150 million 3.088% fixed rate notes due March 29, 2032 to institutional and accredited investors, according to a bourse filing on March 28.
The notes are part of its US$3 billion ($4.02 billion) euro-medium term note programme established on March 29, 2010 and last updated on April 20, 2021.
CICT says that the proceeds from the issue of the notes will be used to finance or refinance in whole or in part the eligible green projects undertaken by the group and in accordance with the CICT Green Finance Framework.
CICT highlights that the euro-medium term note contains a condition where it is in an event of default under the terms of the notes issued under the programme, if the manager is removed as the manager of CICT and the replacement is not appointed in accordance with the terms of the trust deed.
In the event of a default due to the condition being breached, the aggregate level of facilities, debt issues and borrowings of CICT and its subsidiaries which are outstanding and that may be affected is approximately $8,520 million (including the notes but excluding interest) as at March 28.
https://www.businesstimes.com.sg/companies-markets/s-reits-surge-banks-decline-see-beginnings-rebound
" Trade tensions in global markets were evident in the performance of global banks in recent weeks. The Singapore trio of DBS, OCBC and UOB averaged declines of 1.4 per cent. At the same time, recent US inflation data came in below expectations, with concerns about the weakening growth outlook in the US.
Despite the recent broad market downturn, Singapore real estate investment trusts (S-Reits) rebounded strongly with the iEdge S-Reit Index gaining close to 5 per cent over the past two weeks.
Larger market-capitalisation S-Reits have also led the sector&rsquo s recent gains. Within the Straits Times Index (STI), the seven S-Reits averaged 5.6 per cent gains over the past two weeks."
looks like reits got opportunities this year! saw this event reits symposium coming up, not sure if anyone going to see see look look? can register early bird here https://shareinve.st/1tsm
good good.
i look forward to his contributions
i look forward to his contributions
PiRPiR ( Date: 18-Mar-2025 13:56) Posted:
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11:35 PM EDT, 03/17/2025 (MT Newswires) -- CapitaLand Integrated Commercial Trust (SGX:C38U) manager, CapitaLand Integrated Commercial Trust Management, appointed Tan Choon Siang as its chief executive officer, effective May 1, a filing with the Singapore Exchange said on Monday.
Siang currently serves as the manager's deputy CEO, the filing said.
He will succeed Tan Tee Hieong, who will relinquish his role on the same day as part of the manager's succession planning and leadership renewal process.
Siang currently serves as the manager's deputy CEO, the filing said.
He will succeed Tan Tee Hieong, who will relinquish his role on the same day as part of the manager's succession planning and leadership renewal process.
Not moving up at all.
07:22 PM EST, 02/23/2025 (MT Newswires) -- CapitaLand Integrated Commercial Trust (SGX:C38U) reallocated SG$7.4 million in unused proceeds from its SG$1.1 billion equity fundraising to repay outstanding borrowings, according to a Friday filing on the Singapore Exchange.
The balance arose from a SG$3.2 million refund due to a lower purchase price for acquisition and reduced fees and expenses. Following the reallocation, all proceeds from the equity fundraising have been fully utilized.
The balance arose from a SG$3.2 million refund due to a lower purchase price for acquisition and reduced fees and expenses. Following the reallocation, all proceeds from the equity fundraising have been fully utilized.
Analysts praise CICT?s ?strong? FY2024 performance and see 16%-23% upside
====== pay wall =======
https://www.theedgesingapore.com/capital/brokers-calls/analysts-praise-cicts-strong-fy2024-performance-and-see-16-23-upside
====== pay wall =======
https://www.theedgesingapore.com/capital/brokers-calls/analysts-praise-cicts-strong-fy2024-performance-and-see-16-23-upside
Capitamall trust 2002 to 2008 strong initial growth.
2008 to 2009 GFC
2009 rights issue
2009 to 2015 slow growth
2015 to 2020 stagnant
2020 Covid and combine with CCT to form CICT
2020 to 2024 recovery.
2025 onwards, shld be steady but slow growth.
2008 to 2009 GFC
2009 rights issue
2009 to 2015 slow growth
2015 to 2020 stagnant
2020 Covid and combine with CCT to form CICT
2020 to 2024 recovery.
2025 onwards, shld be steady but slow growth.
CapitaLand Integrated Commercial Trust&rsquo s H2 DPU remains at S$0.0545
Distributable income rises 6.4% to S$385.7 million for the period
THE manager of CapitaLand Integrated Commercial Trust : C38U +0.52% (CICT) posted a distribution per unit (DPU) of S$0.0545 for the second half ended December, unchanged from the previous corresponding period.
This brings total DPU for FY2024 to S$0.1088, up 1.2 per cent year on year. Based on the closing price of S$1.93 per unit on Dec 31, 2024, CICT&rsquo s distribution yield for the full year is 5.6 per cent.
On Wednesday (Feb 5), CICT&rsquo s manager said the stable H2 DPU came amid an enlarged unit base due to the distribution reinvestment plan in March last year and an equity fundraising in September.
The H2 DPU consists of an advanced distribution of S$0.0216 for Jul 1 to Sep 11, which was paid on Oct 17. The remaining DPU will be paid out on Mar 21, 2025, after the record date on Feb 13.
Speaking at the trust&rsquo s earnings briefing on Wednesday morning, Tony Tan, the chief executive of CICT&rsquo s manager, said that it had ended the year in &ldquo a strong position&rdquo .
Tan noted that CICT&rsquo s overall portfolio had improved by 0.3 percentage point quarter on quarter to 96.7 per cent, with improvements seen across its retail, office and integrated development portfolios.
Rental reversion for its office and retail portfolios had also gone up by 11.1 per cent and 8.8 per cent respectively, based on the average rent of signed leases in FY2024. (*see amendment note)
Distributable income rose 6.4 per cent to S$385.7 million for H2, from S$362.5 million in the same period the year before.
CICT&rsquo s manager said the increase in distributable income was driven mainly by contributions from Ion Orchard in which it acquired a 50 per cent stake last year, as well as better performance of its existing operating properties and &ldquo prudent management of operating and interest costs&rdquo .
The increase was, however, partly offset by the divestment of its office building asset 21 Collyer Quay for S$688 million, noted the manager.
Revenue was up 1.2 per cent on the year at S$794.4 million for the half-year period, from S$785.2 million.
Net property income (NPI) grew 1.3 per cent to S$571.1 million for H2, from S$563.6 million.
Improvements in revenue and NPI were driven mainly by &ldquo enhanced performance&rdquo of existing portfolios and higher gross rental income, said the manager.
For the full year, CICT&rsquo s revenue was 1.7 per cent higher at S$1.6 billion, and NPI grew 3.4 per cent to S$1.2 billion.
The real estate investment trust&rsquo s (Reit) portfolio property value rose 6.2 per cent on the year to S$26 billion as at end-December 2024, driven by the Ion Orchard deal and better performance of CICT&rsquo s Singapore portfolio.
But the gains were partially offset by the sale of 21 Collyer Quay and lower valuation of the trust&rsquo s Australia portfolio. The lower valuation of the Australia portfolio was due to the expansion of its capitalisation rate, which grew by 100 basis points, over the year.
CICT&rsquo s adjusted net asset value per unit was S$2.09 as at end-December, up 1 per cent from a year earlier.
Positive rental reversions
In FY2024, the Reit recorded positive rent reversion of 8.8 per cent for its Singapore retail portfolio and 11.1 per cent for its local office assets.
Leases that were executed in suburban malls in FY2024 saw their rental reversion grow by 9 per cent. These leases make up 7.3 per cent of the Reit&rsquo s retail portfolio. Leases signed at downtown malls such as Bugis Junction over the same period saw their rental reversion rise by 8.6 per cent. These leases make up 10.1 per cent of CICT&rsquo s retail portfolio.
Specific to Ion Orchard&rsquo s performance, Tan said that the retail mall, which was acquired by CICT last October, had performed better than earlier projections, with its occupancy close to 98 per cent.
While luxury retail has softened globally, including Singapore, Tan said that he believed that Ion Orchard&rsquo s curation of retail stores, which caters across different income streams, will be able to help it ride through different economic cycles.
Asset enhancement works from last year could also contribute to the improvement of Ion Orchard&rsquo s performance in the later part of 2025, he added.
CICT&rsquo s portfolio occupancy stood at 96.7 per cent as at end-December, up from 96.4 per cent as at Sep 30, 2024. Its weighted average lease expiry was 3.3 years.
Drop in aggregate leverage
The Reit&rsquo s aggregate leverage as at Dec 31 stood at 38.5 per cent, down 0.9 percentage point from Sep 30, 2024. This gives the manager &ldquo a lot more (debt) headroom&rdquo and financial flexibility to consider more asset enhancement initiatives, said Tan.
Meanwhile, the trust&rsquo s average cost of debt is 3.6 per cent. Some 81 per cent of the Reit&rsquo s total borrowings are on fixed interest rates.
Tan said that he expects the interest rate of the trust&rsquo s euro loan, which was fixed several years ago, to &ldquo creep up&rdquo in the coming year, contributing to a slight increase in overall cost. To this end, the manager will minimise the drawdown of its funds to manage the trust&rsquo s interest expenses, said Tan.
As at Dec 31, CICT had an interest coverage ratio of 3.1 times.
&lsquo Anchoring&rsquo Singapore portfolio
Looking ahead, Tan said the Reit will &ldquo continue to prioritise leasing initiatives to retain tenants and attract new ones&rdquo .
&ldquo We are strengthening the market positioning of our assets in Singapore, Australia and Germany through asset enhancement initiatives,&rdquo he said.
The manager will also look for new avenues to strengthen the portfolio, &ldquo further anchoring ourselves even stronger in Singapore&rdquo , said Tan.
The upgrading works at IMM Building in Singapore are scheduled for completion in H2 2025 with &ldquo high committed occupancies&rdquo , he noted.
CICT achieves positive 2H 2024 performance with distributable income up 6.4% year-on-year to S$385.7 million
CICT is in a position of strength after successful portfolio reconstitution, anchored by resilience
CICT is in a position of strength after successful portfolio reconstitution, anchored by resilience